Finance
Entain Explores Sale Options After 2023 Losses
The Financial Times reported that Entain has initiated a review of strategic moves, possibly including the sale of several of its
New Jersey’s gambling regulators recently shared the gaming revenue for July 2023. The results show varied performance across different types of gambling, but overall, it remained stable.
Casinos are making a little less money lately:
According to the data compiled by the Division of Gaming Enforcement, the Casino Win for the nine casino hotel properties in July 2023 amounted to $290.0 million, reflecting a modest decrease of 3.0% when compared to the same period in 2022, which reported $299.0 million. However, the year-to-date Casino Win for these properties showcased a positive growth trend, reaching $1.65 billion, representing a 2.3% increase compared to the prior year-to-date period’s $1.61 billion.
Online gaming is doing really well:
In July 2023, online gaming had a great performance. Casinos and their partners reported a revenue of $155.2 million, which was a big jump of 13.5% compared to the previous period’s $136.7 million. Looking at the whole year so far, online gaming has been even more impressive. It reached $1.09 billion, showing a remarkable increase of 14.2% from the $951.2 million reported during the same period last year.
Sports betting keeps on growing rapidly:
In July 2023, the money made from sports betting went up a lot. Casinos, racetracks, and their partners reported $61.0 million in earnings. This is a big increase of 35.6% compared to the $45.0 million they made in the same period last year. So far this year, sports betting has been doing really well, with a total of $501.8 million earned, which is a strong 41.9% increase from the same time last year when it was $353.7 million.
Overall gaming revenue has increased:
The total amount of money earned from all types of gambling, including casino games, online gaming, and sports betting, went up by 5.3% in July 2023. In that month, the total revenue reached $506.2 million, compared to $480.7 million in July 2022. For the year so far, the total gambling revenue has increased by 11.0%, totaling $3.23 billion, compared to $2.91 billion during the same period last year.
Although casino earnings went down a bit, the gambling industry in New Jersey still showed strength and growth in July 2023. Online gaming and sports betting were particularly successful, driving this positive trend and helping New Jersey maintain its vibrant gambling scene.
Source Data and Additional Information:
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